world economic news

Economic News Daily – Monday 18/04/2022

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CHINA

The Chinese economy expanded 4.8% yoy in Q1 of 2022, above market consensus of 4.4% and faster than a 4.0% growth in the previous period, data from the National Bureau of Statistics revealed on Monday. Meanwhile,  retail sales were down 3.5% in March and industrial production rose 5%.

NEW ZEALAND

New Zealand Prime Minister Jacinda Ardern left Monday for Singapore and Japan as her first trip overseas since Covid-19 struck, with hopes of boosting the economy amid her declining domestic approval rating, Nikkei Asia reported.

JAPAN

Bank of Japan (BoJ) governor Haruhiko Kuroda stated on Monday that the recent weakening of the yen has been “quite sharp” and that the currency’s moves could “make it hard for companies to set business plans” BAHA News reported.

RUSSIA

The Russian central bank has imposed foreign exchange controls to support liquidity but aims to preserve market pricing principles and a rouble exchange rated determined by the market, the bank’s first deputy governor said on Friday.